SOUTH STREET SEAPORT — The waitlist for a small number of below-market rate apartments along the neighborhood's cobble stoned Front Street is now open for applications — with rents ranging from $2,268 for a studio to $2,913 for a two-bedroom.
The middle income units — just five — are located inside the Historic Front Street development, a collection of 11 historic rowhouses and three modern apartment buildings that sits between Peck Slip and Beekman Street.
The state's Housing Financing Authority helped fund the Durst Organization's restoration of the 18th century buildings, and construction of the new apartments, with $46 million in Liberty Bonds — a tax-free financing that helped spur development in Lower Manhattan after 9/11. In exchange, 5 percent of the complex's 95 apartments were designated affordable housing.
According to a listing posted on the state's Housing and Community Renewal agency's website, the waitlist for the middle-income apartments inside the Front Street development is now accepting applications.
Only renters making less than 150 percent of the area's median income can apply for the apartments — which means those who apply must make between $75,600 to $129,450, depending on the apartment and number of residents.
All apartments in the buildings range in size from about 600 to 1,400 square feet.
Here's a breakdown of the income for the apartments from the state's Homes and Community renewal agency:
Those interested in being added to the waitlist must request an application by mail to: Historic Front Street Development, 601 West 57th Street, Management Office, 7th floor, New York, NY 10019.
Only the first 500 people who request an application for the waitlist will get one, according to HCR. For more information, head to the HCR website.
A spokesman for the complex's developer, the Durst Organization, said they are still accepting applications. No apartments are currently available, but those who apply will be placed on a waitlist for the housing lottery — a lottery that will be used when an apartment opens up.
Complete details on how to apply are available here (pdf).
